Land of the falling "poison pill" understanding defensive measures in Japan on their own terms

• Main Authors: Koh, Alan K., Nakahigashi, Masafumi, Puchniak, Dan W.
• Other Authors: Nanyang Business School
• Format: Article
• Language: English
• Published: 2022
• Subjects: Business::Law::Business enterprises; Business::Law::In Asia::Japan; Japan; Comparative Corporate Law
• Online Access: https://hdl.handle.net/10356/155254
• Institution: Nanyang Technological University

Embraced by United States (“U.S.”) managers in the 1980s as a lifeline in a sea of hostile takeovers, the poison pill fundamentally altered the trajectory of American corporate governance. When a hostile takeover wave seemed imminent in Japan in the mid-2000s, Japanese boards appeared to embrace thi...